German consumer spending stagnates

German exports drove growth in Europe’s biggest economy in the second quarter as consumer spending stagnated and corporate investment declined, underpinning concern that the pace of expansion may slow.

Exports rose 3.2% from the first quarter, the Federal Statistics Office said, in a first breakdown of gross domestic product. Domestic demand unexpectedly fell 0.1% in the same period.

The statistics office said the economy grew 0.5% in the second quarter, confirming its August 12 estimate.